The Amazon Smbhav Entrepreneurship Challenge 2022 was announced by Amazon India on Thursday. The project, which is themed ‘Make in India,’ will provide participating companies from throughout the country the opportunity to exhibit their business model and compete for equity-free cash prizes of up to INR 65 lakhs and other prizes. Amazon has partnered with the Ministry of Skill Development and Entrepreneurship, the National Innovation Foundation (an autonomous body of the Department of Science and Technology), the NIF Incubation and Entrepreneurship Council, Fireside Ventures, and Freshworks to further the goal of reaching out to startup founders across India and nurturing grassroot innovations from the country’s most remote areas.
“I am pleased to deepen our partnership with Amazon on this mission of creating opportunities. Amazon Smbhav Entrepreneurship Challenge 2022 would look forward to scouting eligible entities in large numbers and I am confident that this kind of a purposeful partnership will bring digitization in MSMEs, enabling them to contribute to India’s economic growth. In line with the Hon’ble Prime Minister Shri Narendra Modi’s call to build an Atmanirbhar Bharat, I am proud to announce my Ministry’s partnership with Amazon on this Challenge to empower talented entrepreneurs across Tier 2/ Tier 3 cities and rural areas to reach their fullest potential. India might still be the 3rd largest start-up ecosystem in the world but ours is the ecosystem where the grassroot innovators have equal opportunities,”Dr. Jitendra Singh, Hon’ble Union Minister of State (Independent Charge), Science & Technology and Earth Sciences said.
The Amazon Smbhav Entrepreneurship Challenge is open to businesses of all sizes, industries, and business models. The top 250 startups will get access to a network of startup founders, Amazon and partner organization prizes, and coaching sessions to help them prepare for the pitch days. The winners will be determined by a cross-disciplinary jury panel and customer votes. The winners will be announced at Amazon’s third annual flagship conference, Amazon Smbhav, on the 18th and 19th of May. The winner of the final round will be named ‘Amazon Smbhav ’22 Startup of the Year,’ with a cash award of INR 40 lakhs, and the first and second runners-up will receive INR 15 lakhs and INR 10 lakhs, respectively.
“Throughout India, startups are setting new benchmarks in problem solving and delivering products and solutions for customers not just in India, but across the world. At Amazon, we support and celebrate builders, entrepreneurship and innovation, and the Smbhav Entrepreneurship Challenge 2022 is part of our commitment to enable startups and emerging brands across India realise their full potential and contribute to India’s economic progress,”Sumit Sahay, Director, Selling Partner Services, Amazon India said.
“Indian startups are making waves across the world and are touching new heights with cutting edge innovation. There is immense potential for Indian brands to strengthen their foothold in the global stage and drive the next phase of India’s growth story. We at Fireside Ventures are delighted to be partnering with Amazon for the Smbhav Entrepreneurship Challenge 2022 – Make in India and play our part in supporting rising entrepreneurs spearhead towards success,”Kanwaljit Singh, Founder & Managing Partner, Fireside Ventures said.
Amazon and the NIF Incubation and Entrepreneurship Council (NIFientreC) signed a Mou earlier this year to promote grassroot innovations, local economies, and livelihoods in rural India. As part of the MoU, NIFientreC will gather specialists from several sectors to offer masterclasses, workshops, and other interactive training programs on all elements of product distribution and its availability to end-users in the most accessible methods, with Amazon’s assistance. This collaboration will allow students and young entrepreneurs specializing in consumer-based technology innovation to be more creative and innovative at a grassroots level, accelerating the growth of a digital India.